Hopes are high that a recent move to clarify regulations governing the sale and development of condominiums in Myanmar will boost their demand. The Condominium Rules, published by the Ministry of Construction (MoC) on December 15, 2017 ease restrictions on foreign ownership, clarify aspects of the law and provide greater safeguards for buyers. They are expected to boost sales activity and drain off…
With increasing demand for housing, public transport and utilities infrastructure, the Yangon authorities are making determined efforts to develop the city. The Yangon City Master Plan, an updated version of which was drawn up at the end of 2016, presents detailed proposals for the upgrade and expansion of the city’s capacity. These plans cover the period up to 2040 and envisage not only a major…
In a bid to consolidate various development plans under one common strategy, the government is working with several development partners to create an agriculture master plan for sustainable growth. Drafted with the help of the Asian Development Bank, the UN Food and Agriculture Organisation, and the Livelihood and Food Security Trust Fund, the Agricultural Development Strategy and Investment Plan…
With a long-term goal of developing advanced industries, local authorities have been working alongside international agencies and foreign governments in an effort to expand the country’s manufacturing capacity through investments in infrastructure and much-needed power stations. Meanwhile, the adoption of legislation to support special economic zones (SEZs) in 2014 paved the way for growth by introducing…
With a view to achieving shared prosperity from increased food exports, development partners are working with the government to increase rice production and encourage the adoption of appropriate mechanisation in the agricultural value chain. Myanmar’s crop output is currently dominated by small-scale rice farmers, who operate with little knowledge of modern cultivation methods. Seeing as production…
Despite being endowed with vast deposits of jade and gemstones, a fragmented value chain, persistent smuggling and weak oversight have long hindered revenue collection for the state in Myanmar. To remedy this, the country’s first democratic government is determined to formalise trade and remove conflicts of interest across a sector that has immense potential to fuel economic growth. In an effort…
The draft of the Revenue Appellate Tribunal Law is due to be presented to Parliament for approval in 2018. The law aims to establish an independent legal body in order to comprehensively hear and decide on matters arising from any taxation by government organisations, to foster competent administration machinery for statutory taxation, and to earn taxpayers’ trust by ensuring equity and justice…
By implementing the National Education Law, along with its supporting policies, the National League for Democracy government has demonstrated its commitment to improving educational quality and access. Building upon these efforts, the Ministry of Education (MoE) has announced a medium-term strategy – the National Education Strategic Plan (NESP) – the first phase of which is set to run from…
As its economic liberalisation agenda progresses, the government has increasingly turned its attention towards addressing the country’s widening trade deficit. Although Myanmar exports have risen sharply over the previous decade, they have not kept pace with import growth. An overdependence on raw resource exports and the lack of a diversified, value-added export base have been identified as primary…
Over the past 15 years there has been a steady stream of new sector regulations, with each piece of legislation aligning Myanmar’s banks closer to international standards and best practices. This began in 2002 with the Control of Money Laundering Law, an important first step towards containing this problem. It also signalled to the international community that Myanmar was serious about addressing…
